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Level 1

If you charge your kids rent is that considered rental income

Adult children living at home. If you charge them rent, do you have to declare it as rental income?

1 Reply
Level 1

If you charge your kids rent is that considered rental income

It depends, please see link below to explain, it refers to friends but the concept is the exact same:

My friend lives with me and helps cover expenses. Do I have to report their payments as rental income?https://turbotax.community.intuit.ca/replies/3726373